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TMI Blog2023 (11) TMI 688X X X X Extracts X X X X X X X X Extracts X X X X ..... payable to three Creditor totalling to Rs.21 Lakhs/-. The said Company is also owing one Immovable Property. In Calcutta Rubber Factory Pvt. Ltd. Ors. Vs. Registrar of Companies, Delhi and Haryana, 2019 [ 2019 (12) TMI 342 - NATIONAL COMPANY LAW APPELLATE TRIBUNAL NEW DELHI ] it was held that restoration of the Company was considered just and equitable on the grounds that the Company is having Assets. In the present case, the Company had complied with the statutory filings till Financial Year 2016-17 and the statutory filings for Financial Year 2017-18 were not due as on the date of striking off of the Company. The Company is having assets and liabilities. It owns one property and has liability to repay credits of Rs.21 Lakhs/- Sinc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... etition) Audited Financial Statements The Company has submitted audited financials for FY 2016- 17 to 2018-19 (pg 56 and 89 of petition), which show nil Revenue form Operations. 3. A RoC in its reply dated 16.03.2021, objected to restoration of the name of the Company in view of the fact that the Company had not been in business as was evident from nil revenue from operations during the FY 2016-17 to 2018-19 (pg 3 of RoC reply), which resulted in striking of the name. In fact, the Company had nil revenue from operation since the FY 2016-17. Even after FY 2016-17, the Company had nil revenue from operation during FY 2016-17 to 2018-19 (pg 56 and 89 of petition). 4. On the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... mitted that there was no ground for striking off the Company on 08.08.2018. The Counsel for the Appellant further submitted that the Company owns a Fixed Asset in the form of the Property situated at Flat No. 502, Unit-A, Block I, Fourth Floor, Indraprastha Apartments I, Residential Group Housing, situated at Indraprastha Colony, Sector 30-33, Faridabad, Haryana, for which payment of Rs. 48 Lakhs/- has been made in the period 03.12.2010 to 12.09.2014. The Counsel for the Appellant further submitted that their case is different from that of `Alliance Commodities Pvt. Ltd. Vs. `Office of Registrar of Companies, West Bengal in Comp. App. (AT) No. 20 of 2019, decided by this Tribunal as the Appellant is not a shell Company and is not indul ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the Companies (Removal of Names of Companies from the Register of Companies) Rules, 2016 vide Notice in the form of STK 7 dated 08.08.2018. It was submitted by the Learned Counsel for the Respondent that the Appellant had failed to demonstrate that they were carrying on any business operation before it was struck off. From the Auditor s Report of 2016-17, 2017-18 and 2018-19 it is observed that Revenue from operations was NIL. The Respondent relied upon the decision of this Tribunal in the matter of `Alliance Commodities Pvt. Ltd. Vs. `Office of Registrar of Companies, West Bengal in Comp. App. (AT) No. 20 of 2019, which was confirmed by the Hon ble Supreme Court vide Order dated 23.09.2019. 6. We have gone through the submissions of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... mmovable assets. Therefore, it cannot be said that the Appellant/Company is not carrying on any business or operations. Hence, we are of the view that the order passed by the National Company Law Tribunal (New Delhi, Bench-V) as well as Registrar of Companies, NCT Delhi Haryana is not sustainable in law. 8. The relevant portion of the Judgement of this Tribunal dated 06.12.2019, in the matter of `Calcutta Rubber Factory Pvt. Ltd. Ors. Vs. `Registrar of Companies, Delhi and Haryana , 2019 SCC OnLine NCLAT 851, is given below for ready reference : 11. The company is having a lease hold plot allotted by HUDA and the appellant company undertakes to file the returns and the financial statements after the period 2012-13. The com ..... X X X X Extracts X X X X X X X X Extracts X X X X
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